FxWirePro- HNTUSD (Chart of the day)

Helium is a decentralized distributed network of Hotspots for Internet of Things (IoT) devices using the LoRaWAN system.

Recent news

Nick Gracia tweeted

Take @helium - over 500,000 subscribers have leveraged the network via the Carrier Offload beta.As the supply side accelerates, especially with developments like HIP 130 which will allow existing WiFi hotspots to participate in the network, we will see greater coverage range and quality, thus increasing usage from the major carriers.

HNTUSD recovered after a minor sell-off.

Any daily close above $8 confirms further bullishness.

HNTUSD gained more than 18% in the past two days. The pair holds well above the short-term (21 and 55 EMA) and the long-term moving average. It hit a high of $7.24 and is currently trading around $7.10.

The bullish invalidation can happen if the pair closes below $3.50. On the lower side, the near-term support is $6.70. Any break below targets $6/$5/$4.50/$4/$3.60/$3.

The immediate resistance stands at around $8. Any breach above confirms a minor pullback. A jump to $8.49/$9.13 is possible.

Indicator (4-Hour chart)

CCI (14)- Bullish

CCI (50)- Bullish

Average directional movement Index - Bullish

It is good to buy on dips around $6.70 with SL around $4.50 for TP of $10